Basic Record Keeping

Basic Record Keeping
No matter what kind of business you are operating, in any country throughout the world, you must maintain good financial records!
Why Keep Good Financial Records?
Good records keep you informed about the past, present and future financial position of your business. With good records you can determine where your company is heading. You need to know whether your company revenues are going up or down. A new business' chance of survival is greatly increased with good record keeping.
This will also make tax time so much less painful. You will be able to print 1099’s easily, you will have the information you need for the accountant and best of all you will be able to take all the expenses you are entitled to and lower the amount of tax you pay!
Setting Up A System
There are no steadfast rules regarding the method that must be used to record your figures - those kept on paper are just as valid as those stored on the computer. What is important is that your financial records are accurate and updated regularly.
What to Include in Basic Financial Records
1. Record Sales – This would include a listing of your clients, what items were purchases, any sales tax charged, etc.
2. Record Payments received for Sales – This would include keeping a record of credit card sales, checks or cash and any refunds issued.
3. Record Purchases- This is especially important in the areas of auto expense, meals and entertainment, and any large purchases.
4. Record Payments for Purchases – This is especially important in handling fixed assets. You will need to have a record of the date and amount.

New Kid on the Block

For those of you who have been using 1shoppingcart. com or Aka cartville or a million other names of the same shoppingcart, you have more than likely run into some recent issues they are facing. From affiliate links not working, to clients being deleted, to email breakdowns. But still we who use them stick around loyally, waiting for the techies to make fixing these things a priority and stop telling us it is on there list.

Well out of no where in walks the new kid on the block. There will always be someone to pick up that slack of the company that rests on its laurels so to speak. The new kid has taken tech support and checkmate for them it is awesome. They have taken much needed integrated marketing tools and supplied them at no additional cost.

Why do I care - -- Because it directly affects those bookkeeping clients that have web presence of any type. Do I say leave 1shoppingcart ( Cartville) - no not yet. As all things new this shopping cart has some maturing to do. Some of my clients based on the way they use 1shoppingcart won't even be affected by these problems. But some of you are really getting fed up, week after week problem after problem.

So to let the cat out of the bag --- It is Goldbar.net- - Go check them out. You may feel that there is a solution in case you feel the need to leave.